Experience Seamless Verification: Identify SMBs with the Least Effort

The Challenge of SMB Verification

There are about 33.2 million small and medium-sized businesses (SMBs) in the U.S., making up 99.9 percent of ALL U.S. businesses, yet verifying these entities for onboarding or underwriting remains a significant challenge for enterprises and SMB owners alike. For financial institutions, verifying SMBs often involves navigating through layers of manual processes, data discrepancies, and compliance requirements. This leads to tedious delays, increased costs and potential errors that disrupt workflows.Traditional verification processes require time-intensive data collection and validation. These processes often involve cross-referencing information across disparate systems, manually checking tax identification numbers (TINs) or verifying business identities against compliance regulations like Know Your Customer (KYC) and Know Your Business (KYB). The inefficiency is not only a resource drain but also a barrier to customer satisfaction, as lengthy wait times lead to frustration and drop-offs.

The Case for Seamless Verification Seamless verification offers more than just speed for financial institutions. It can also help in reducing costs and improving customer satisfaction.